#Belanjawan2027: Tax Relief Expanded To Cover Sports Shoes & AI Subscriptions
Prime Minister Datuk Seri Anwar Ibrahim announced several tax relief measures aimed at easing the burden of the rising cost of living on the M40.
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Prime Minister Datuk Seri Anwar Ibrahim has announced several tax relief measures aimed at easing the burden of the rising cost of living on the middle-income group
During the tabling of Budget 2027 today, 9 October, Anwar, who is also the Finance Minister, said the government recognises the concerns of the M40 group, who continue to face rising living costs.
He announced three measures, including an increase in the individual tax relief limit from RM9,000 to RM12,000. The limit has not been revised since 2010.
Anwar also announced that personal income tax rates for resident individuals will be reduced by one percentage point for two chargeable income brackets
The tax rate for chargeable income between RM70,000 and RM100,000 will be reduced to 18%, while the rate for income between RM100,000 and RM150,000 will be reduced to 24%.
The government will also expand several individual tax reliefs to cover more expenses:
- Medical expenses: Expanded to include postnatal care services.
- Care for parents and grandparents: Expanded to cover all caregiving expenses, rather than being limited to healthcare expenses.
- Sports equipment: Expanded to include the purchase of sports shoes.
- Education and skills training fees: Expanded to cover all fields of study and children's tuition fees.
- Lifestyle expenses: Expanded to include AI subscriptions, vaccination costs, and the adoption of pets from registered centres.
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